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Strait of Hormuz

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international

US envoy Witkoff headed to Switzerland for Iran talks — reports

US Special Envoy Steve Witkoff is heading to Switzerland where the first round of talks with Iran on a potential nuclear deal is expected to take place, a US official told Axios. US official said Trump's envoy Jared Kushner is already in Switzerland for the negotiations, which were supposed to start Friday but were postponed because of fighting between Israel and Hezbollah in Lebanon. Both Witkoff and Iranian Foreign Minister Abbas Araqchi were headed to Switzerland for talks, as a ceasefire in Lebanon appeared to revive efforts to turn the interim Iran war pact into a lasting regional deal. The development follows a 14-point memorandum the US and Iran signed this week to halt fighting and open a 60-day window to resolve disputes over Iran's nuclear programme and other thorny issues needed for a durable deal. With the ceasefire in […]

Abdulmumini Auwal SA June 20, 2026

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Nigeria

U.S. lifts Strait of Hormuz blockade as U.S. and Iran sign deal to halt war

The U.S. Central Command has confirmed that the naval blockade over the Strait of Hormuz has officially been lifted as a result of the ceasefire agreement reached between the United States and Iran. The U.S. declared the cessation of its naval blockade affecting maritime movement to and from Iranian ports and coastal territories, including the strategically vital Strait of Hormuz, with the blockade expected to be completely lifted within 30 days. According to senior U.S. officials, this measure is all part of the deal signed by President Donald Trump at the Palace of Versailles, where the U.S. and Iran agreed to reopen the crucial Strait of Hormuz and halt the war. In return for the blockade lift, Iran will now allow toll-free passage through the Strait of Hormuz for 60 days, ensuring safe passage for commercial ships without any charges […]

Abdulmumini Auwal SA June 19, 2026

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international

14-point US-Iran deal to end war

US President Donald Trump has signed a 14-point memorandum of understanding (MOU) with Iran to end hostilities, reopen the Strait of Hormuz and set a roadmap for a comprehensive peace deal that includes lifting all sanctions and unfreezing Iranian assets abroad. The US and Iran, along with their allies in the ongoing conflict, declared an immediate and permanent cessation of military operations on all fronts, including Lebanon, and agreed not to initiate any warfare or military actions against each other. The MOU commits both nations to honor each other's sovereignty and territorial integrity, refrain from interference in each other's domestic matters, and negotiate a comprehensive agreement within a maximum of 60 days. Upon signing, the US will begin dismantling its naval blockade against Iran, fully ending the blockade within 30 days, and restore maritime traffic to pre-war levels proportional to […]

Abdulmumini Auwal SA June 18, 2026

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international

Trump defends Iran deal, calls critics ‘fools’

US President Donald Trump has angrily defended his controversial deal with Iran to end hostilities and reopen the Strait of Hormuz, lashing out at opponents and branding critics of the agreement as “fools.” The Trump administration this week unveiled a memorandum of understanding with Tehran that provides for an immediate cessation of military hostilities on all fronts, including Lebanon, alongside a roadmap for further negotiations. Under the interim deal, the US is set to lift its naval blockade on ships entering and leaving Iran within 30 days, while the Treasury Department will issue waivers on Iranian oil exports and move toward lifting sanctions and unfreezing Iranian assets in foreign accounts. The agreement also opens the door for up to 300 billion dollars in private investment into Iran’s infrastructure sector, as both sides enter a 60‑day window to finalize talks on […]

Abdulmumini Auwal SA June 18, 2026

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international

US-Iran Deal Leaves Key Issues Unresolved

The newly announced memorandum of understanding between the United States and Iran has officially taken effect, marking a significant diplomatic step after months of conflict. However, while the agreement restores shipping access through the Strait of Hormuz, many of the most difficult issues remain unresolved and will be the focus of intensive negotiations over the next 60 days. Speaking at the G7 summit in France, US President Donald Trump described the deal as a major achievement and presented it as a breakthrough that could pave the way for a broader peace agreement between Washington and Tehran. Both governments later confirmed that the memorandum had been signed electronically and was now active. Despite the optimism surrounding the announcement, details released by US officials suggest that substantial differences remain between the two sides. One of the central goals of the Trump administration […]

Abubakar June 18, 2026

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international

US and Iran Sign Initial Peace Agreement

The United States and Iran have signed a preliminary peace agreement designed to bring an end to the ongoing conflict, with key provisions taking effect immediately. The deal includes the reopening of the Strait of Hormuz, a proposed $300 billion reconstruction framework for Iran, and a commitment by Washington to begin lifting all categories of sanctions imposed on Tehran. However, negotiations over Iran’s nuclear programme — a central issue behind the conflict — will continue for an initial 60-day period, with the option of extending talks if both sides agree. US President Donald Trump signed the memorandum during the G7 summit in France, describing the agreement as a necessary step to prevent severe global economic disruption. While expressing optimism about the process, Trump warned that military action could resume if the two sides fail to reach a final settlement. Iranian […]

Abubakar June 18, 2026

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international

US-Iran Deal May Ease Global Economic Pressure

More than three months after the conflict involving the United States, Israel and Iran began, Washington and Tehran have reached a framework agreement aimed at reducing tensions and laying the groundwork for a longer-term resolution. A key component of the agreement is the planned reopening of the Strait of Hormuz, one of the world's most important maritime trade routes. The waterway normally handles nearly 20% of global oil and liquefied natural gas shipments, making it critical to international energy markets. The disruption of traffic through the strait since late February triggered sharp increases in global energy prices and raised concerns about supply shortages. While the new agreement has been welcomed by markets, shipping activity in the region remains limited, highlighting the challenges involved in restoring normal operations. Industry experts caution that a full recovery will take time. Hundreds of vessels […]

Abubakar June 15, 2026

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international

US-Iran set to sign peace deal Friday

A major breakthrough in Middle East diplomacy has been achieved as the United States and Iran have reached a peace deal, with the formal signing ceremony scheduled for Friday, June 19, in Switzerland. The agreement, which came after over 100 days of conflict that ignited a worldwide energy crisis and cast a shadow over the global economic landscape, is expected to mark the end of months of military tensions and pave the way for reopening the strategically crucial Strait of Hormuz. Pakistan's Prime Minister Shehbaz Sharif announced that the peace deal will be officially signed in Switzerland on Friday, June 19, with both sides working toward electronic signing preparations. US and Iranian officials confirmed on Sunday that they have agreed on a framework to end months of war, reopen the Strait of Hormuz, and lift the US blockade on Iran. […]

Abdulmumini Auwal SA June 15, 2026

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international

Crude oil prices fall as US-Iran peace deal boosts global markets

Global crude oil prices have plunged after the United States and Iran reportedly reached a landmark peace agreement, easing fears of prolonged conflict in the Middle East and boosting investor confidence across global markets. Brent crude, the primary benchmark for worldwide oil prices, fell 3.4% to $87.30 per barrel, while West Texas Intermediate (WTI) crude declined 3.2% to $84.88 a barrel. Front-month Brent crude futures had decreased by 4.3%, settling at $86.50 per barrel, while front-month WTI crude futures also dropped by 4.3%, now at $83.76 per barrel. The market reaction follows President Donald Trump's announcement that the U.S. has agreed to a peace deal with Iran, allowing the reopening of the Strait of Hormuz and removing oil sanctions on Iran. This development has reduced concerns over oil supply disruptions from the region and eased fears that the conflict would […]

Abdulmumini Auwal SA June 15, 2026

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international

Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release

Iran has revealed that a proposed memorandum of understanding with the United States includes a waiver of oil sanctions, limits on Iran's nuclear programme, and the release of billions of dollars in frozen Iranian assets. A senior Iranian source told Reuters on Friday that the draft deal would waive sanctions on Iran's oil exports, unfreeze billions of dollars of its funds, and impose restrictions on Iran's nuclear programme. The agreement also includes a commitment from Iran to never develop nuclear weapons. According to the source, the United States would lift its blockade on Iranian ports and issue targeted sanctions waivers to facilitate unrestricted Iranian oil sales during the negotiation period. The US proposal includes a temporary waiver of oil sanctions effective until a final agreement is reached, rather than Iran's demand for permanent lifting of all sanctions. The draft MOU […]

Abdulmumini Auwal SA June 14, 2026

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